The company said it has made significant technological advancements that have resulted in reducing iridium usage by 50% in its Lotus electrolyzer, Mark 2. This supports the cost-competitiveness of green hydrogen production by lowering the overall cost of PEM electrolyzers.
Dr Chock Karuppiah, Chief Science and Technology Officer, said: “We’ve made significant strides in reducing iridium usage in our PEM electrolyzers, exceeding the 2030 industry target of 10 GW per ton. We’ve achieved a utilization rate of 18 GW per ton. This innovation is crucial, as iridium is one of the most expensive materials in electrolyzer manufacturing.”
Chief Executive Officer Dr Markus Tacke added: “We’re proud of the team’s hard work and achievements. By reducing iridium usage and leveraging our high system efficiency (48 kWh/kg), Ohmium is lowering the cost of green hydrogen production and enhancing the overall cost-efficiency of our green hydrogen solutions.”
The company aims to double utilization efficiency to 36 GW per ton or less within another year, a step it said will move it closer to its goal of near-zero iridium usage within a decade.
